The U.S. Court of Appeals for the Second Circuit denied a petition filed by several attorneys general and investment advisers challenging the legality of the SEC's adoption of Regulation Best Interest.
A Federal Reserve working group, made up of government and payments industry experts, developed a uniform fraud classification system to address fraud involving Automated Clearing House, wire, and check payments.
The U.S. House Financial Services Subcommittee on National Security, International Development and Monetary Policy considered legislative proposals aimed at addressing fraud and cybersecurity vulnerabilities.
The SEC provided conditional relief from certain Exchange Act credit-arranging prohibitions to broker-dealers designated as agents for the Federal Reserve Board's Term Asset-Backed Securities Loan Facility.
The CFTC Divisions of Market Oversight, Swap Dealer and Intermediary Oversight, and Clearing and Risk warned regulated entities "to prepare for the possibility that certain contracts may continue to experience extreme market volatility, low liquidity and possibly negative pricing."